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4. You have just taken out a $30,000 car loan with an 8% APR, compounded monthlY. The loan is for five years. What is the

image text in transcribed 4. You have just taken out a $30,000 car loan with an 8% APR, compounded monthlY. The loan is for five years. What is the monthly payment? What is the value of the loan at the end of the 20th ononth? (i.e. amount of ending balance at the end-of 20thmonth), PV=30,000

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